Agriterra Ltd Proposed 1:100 Share Consolidation & Notice of AGM (7011V)

TIDMAGTA

RNS Number : 7011V

Agriterra Ltd

06 November 2017

Agriterra Ltd / Ticker: AGTA / Index: AIM / Sector: Agriculture

6 November 2017

Agriterra Ltd

("Agriterra" or the "Company")

Proposed 1:100 Share Consolidation and

Notice of Annual General Meeting

Agriterra Limited, the AIM listed African agricultural company, announces that it has today distributed to shareholders its Notice of Annual General Meeting (the "Notice"). Contained within the Notice is a resolution to shareholders regarding a proposed consolidation of share capital (the "Share Consolidation") further detail of which is set out below.

The Company's Annual General Meeting ("AGM") will be held at 12 15 p.m. on 30 November 2017 at Richmond House, St. Julian's Avenue, St. Peter Port, Guernsey, GY1 1GZ.

Proposed Share Consolidation

The Company's board of directors are seeking shareholder approval to undertake a share consolidation based on every 100 existing ordinary shares of 0.1p each ("Existing Ordinary Share") being consolidated into one new ordinary share of 10p each ("New Ordinary Share") (the "Share Consolidation").

As at 3 November 2017, the Company had 2,124,061,769 Existing Ordinary Shares. Following the proposed Share Consolidation the Company will have 21,240,618 New Ordinary Shares of 10p each in issue. The record date of the Share Consolidation will be 30 November 2017 with trading in the New Ordinary Shares under the new ISIN GG00BDG13C09 expected to commence at 8 a.m. on 1 December 2017, the next business day following the AGM. The Company also has a further 155,000,000 deferred shares of 0.1p each, which do not carry any right to any dividend, no right to receive notice, attend, speak or vote at any general meeting of the Company; accordingly, the deferred shares will not be subject to the proposed Share Consolidation.

As all existing ordinary shareholdings in the Company are proposed to be consolidated, the proportion of the Issued Ordinary Share Capital of the Company held by each Shareholder immediately before and after the Share Consolidation will remain relatively unchanged, other than for small changes that may arise from the rounding for fractional entitlements.

Timetable of Events

 
 Annual General Meeting                 12:15 p.m. on 30 
                                           November 2017 
 Share Consolidation Record     6:00 p.m. on 30 November 
  Date                                              2017 
 Existing Ordinary Shares       6.00 p.m. on 30 November 
  disabled in CREST and share                       2017 
  register closed 
 Admission effective and         8.00 a.m. on 1 December 
  dealings commence on AIM                          2017 
  in New Ordinary Shares 
 CREST accounts credited         8.00 a.m. on 1 December 
  with New Ordinary Shares                          2017 
 New share certificates                 15 December 2017 
  despatched on or before 
 

Further details regarding the proposed Share Consolidation can be found in the Notice, available at www.agriterra-ltd.com.

**ENDS**

For further information please visit www.agriterra-ltd.com or contact:

 
 Agriterra Ltd 
 Daniel Cassiano-Silva                 Tel: +44 (0) 
                                        20 7408 9200 
 
 Cantor Fitzgerald Europe (Nominated 
  Adviser and Broker) 
 David Foreman                         Tel: +44 (0) 
                                        20 7894 7000 
 Callum Butterfield                    Tel: +44 (0) 
                                        20 7894 7000 
 
 St Brides Partners (Financial 
  PR) 
 Susie Geliher                         Tel: +44 (0) 
                                        20 7236 1177 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 06, 2017 10:55 ET (15:55 GMT)